Inward Processing Trade and Implications for the Balance of Payments Current Account (The Case of Romania)

The study is focusing on the Romanian foreign trade by approaching distinctly its two components, i.e. the final goods under definitive custom regime and the intermediate goods imported under temporary custom regime, which are subject to processing (IPT-Inward Processing Trade), followed by their exports. While the IPT flows entered a slowdown trend, due to gradual diminishing of comparative advantages of Romania, the trade deficits almost doubled as compared to two years ago. The separation of the IPT component from the foreign trade data highlights the importance of the final exports, allowing also for the assessment of related implications on the BoP current account and on the long-term external position of Romania.Foreign Trade, Balance of Payments, Economic Growth

DETERMINANTS OF INCREASING EU FUNDS ABSORPTION CAPACITY IN ROMANIA

The study found that, during the early post-accession years, Romania failed toattract European funds, at least to the same extent to the national contribution at thecommunity budget, registering a net expenditure as an EU member. The determinants ofincreasing EU funds absorption rate are related, among other, to the availability of internalresources for projects co-financing, adequate administrative capacity at central and locallevels, appropriate inter-institutional coordination and public-private partnerships, highskills and motivation of human resources working in operational programs ManagementAuthorities and intermediary bodies. Activating these determinants could be an opportunityfor sustaining economic growth of Romania and recovering the development gap, which issupposed to alleviate also the adverse effects of international financial crisis on EU countries.economic development, EU integration, structural funds, determinants of absorptioncapacity, absorption rate, operational programs.

CAN INDIA AND CHINA CHANGE THE WORLD POLARITY?

India and China are without doubt two superpowers in becoming, as they jointly own 40% of the world’s population and about 20% from the global economy. Their accelerated growth paces (8 – 9 % in the last decade) put to hard trials the scenarios of world’s development for a larger time horizon, which, in general, approach them independently. But, since the economic development of states in the globalisation era relies decisively on the evolution of political interests games at planetary scale, the hypothesis of a strategic Indian-Chinese alliance determines another configuration of the future map of world’s economy than the one perceived as predictable in the present. For better evaluation of such a possibility, we present in the following some recent economic earmarks of India’s, respectively China’s development, as well as, in conclusion some considerations with respect to the current fields of joint strategic interest of the two states, and their possible alliance.world development, world economy, globalization

ASPECTS OF LOCAL GOVERNMENT EFFICIENCY IN ROMANIA. EXPORTS INCREASE AND DEVELOPMENT OF BUSINESS ENVIRONMENT AT LOCAL AND REGIONAL LEVEL

The amelioration of the local government efficiency in Romania as prerequisite of economy’s sustainable growth largely depends on increasing exports and improving the business environment at regional and local level, factors that can help reducing the development gap. For Romania, several policies and instruments to improve local governance are proposed, firstly by increasing the absorption capacity of structural funds, which could lead to develop business and exports, implicitly to alleviate regional disparities. Nevertheless, on short and medium term, given the under-size of funds (both from the EU and national sources) major changes in improving the local government efficiency are not foreseeable and, under the circumstances of international imbalances (turbulences on financial markets, uncertainties in crude oil prices), which could adversely affect the Romanian economy, attaining the objective of reducing development disparities may be jeopardized in the long run.regional development, local government, foreign trade, foreign direct investment, central and local budget

The Reticulation of a Universal Algebra

The reticulation of an algebra $A$ is a bounded distributive lattice ${\cal L}(A)$ whose prime spectrum of filters or ideals is homeomorphic to the prime spectrum of congruences of $A$, endowed with the Stone topologies. We have obtained a construction for the reticulation of any algebra $A$ from a semi-degenerate congruence-modular variety ${\cal C}$ in the case when the commutator of $A$, applied to compact congruences of $A$, produces compact congruences, in particular when ${\cal C}$ has principal commutators; furthermore, it turns out that weaker conditions than the fact that $A$ belongs to a congruence-modular variety are sufficient for $A$ to have a reticulation. This construction generalizes the reticulation of a commutative unitary ring, as well as that of a residuated lattice, which in turn generalizes the reticulation of a BL-algebra and that of an MV-algebra. The purpose of constructing the reticulation for the algebras from ${\cal C}$ is that of transferring algebraic and topological properties between the variety of bounded distributive lattices and ${\cal C}$, and a reticulation functor is particularily useful for this transfer. We have defined and studied a reticulation functor for our construction of the reticulation in this context of universal algebra.Comment: 29 page

An attempt to quantify the economic system motion under the investment process incidence

In this paper we proposed a model deriving from physics laws, which are associated to the investments impact upon the economic system potential. Defining several physics fundamental dimensions and starting from a series of assumptions, we tried to find their possible economic meaning and interpretation. The economic growth reflected in the system potential rise under the incidence of investments, could occur on three paths (extensive, structural and intensive), depending on main factors changes: the mass of fixed capital, the resources efficiency ratio and the velocity of GDP creation. Based on the proposed model, the optimum volume and structure of investments, according both to disposable resources and targeted economic development stage, could be assessed